Stifel Nicolaus Increases Ingersoll Rand (NYSE:IR) Price Target to $112.00

Ingersoll Rand (NYSE:IR) had its price objective increased by analysts at Stifel Nicolaus from $101.00 to $112.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 11.73% from the company’s previous close.

IR has been the subject of a number of other research reports. Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They issued a “buy” rating and a $110.00 target price for the company. Morgan Stanley initiated coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective on the stock. Evercore ISI decreased their target price on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Robert W. Baird lifted their price target on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Cfra increased their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.17.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock traded down $0.43 during midday trading on Wednesday, hitting $100.24. 81,683 shares of the company were exchanged, compared to its average volume of 2,557,118. The firm has a 50 day simple moving average of $93.40 and a 200-day simple moving average of $93.03. Ingersoll Rand has a 52 week low of $59.20 and a 52 week high of $102.74. The firm has a market cap of $40.44 billion, a P/E ratio of 50.05, a PEG ratio of 2.72 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. Research analysts forecast that Ingersoll Rand will post 3.22 earnings per share for the current year.

Insider Buying and Selling at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the sale, the insider now directly owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now directly owns 100,367 shares in the company, valued at $9,284,951.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,510 shares of company stock worth $7,108,005. Insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

Several hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. lifted its holdings in shares of Ingersoll Rand by 99.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 21,340 shares of the industrial products company’s stock valued at $2,095,000 after purchasing an additional 10,664 shares in the last quarter. Sumitomo Life Insurance Co. boosted its stake in Ingersoll Rand by 2.4% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 23,991 shares of the industrial products company’s stock worth $2,355,000 after purchasing an additional 571 shares during the period. Opal Wealth Advisors LLC increased its holdings in Ingersoll Rand by 6.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 121 shares in the last quarter. Trust Co. of Oklahoma raised its stake in shares of Ingersoll Rand by 7.0% in the 3rd quarter. Trust Co. of Oklahoma now owns 7,964 shares of the industrial products company’s stock valued at $782,000 after purchasing an additional 522 shares during the period. Finally, Creative Planning lifted its stake in Ingersoll Rand by 66.2% in the 3rd quarter. Creative Planning now owns 109,961 shares of the industrial products company’s stock valued at $10,794,000 after acquiring an additional 43,801 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

About Ingersoll Rand

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.